The Asia-Pacific Region: A market niche for Russia s LNG, and price change drivers

Size: px
Start display at page:

Download "The Asia-Pacific Region: A market niche for Russia s LNG, and price change drivers"

Transcription

1 The Asia-Pacific Region: A market niche for Russia s LNG, and price change drivers Anastasiya Masalkova Senior Lecturer Department of Economy Theory, Gubkin Russian State University of Oil and Gas Italy, Rome, June 12 th 2015

2 Focus and Overview of Key Topics RUSSIAN LNG PROJECTS LNG pricing APR s gas market A market niche for Russia s LNG in APR

3 Russian LNG projects

4

5 LNG Vectors at present..

6 and LNG Vectors in the Future

7 LNG exports reflect «managed competition» between the new oligopoly in Russian gas sector

8 Export sales based around LNG and piped gas

9 LNG Pricing

10 LNG-Commercial Interactions Between East and West

11 Oil-linked Pricing Dominant in Core Markets

12 Pricing of LNG example Data:

13 Does the drop in Asian LNG spot prices reflect a lack of LNG demand growth or the low oil price environment

14 The declining oil prices has capped LNG spot prices through oil switching, but the Asian LNG market has been weakening

15 APR s gas market

16 The Asia-Pacific Region (APR) APR: countries of South, East and South- East Asia and Oceania 16

17 APR s gas market: Facts The fastest growing demand for gas: over 5% per year(the average global rate being 2.2%) Gas share in the energy balance: 11% (the average share worldwide being 25%) The largest LNG market by volume: The region consumes up to 70% of the global LNG imports The APR accounts for 30% of LNG production 80%-the percentage of LNG in the imports Potential growth by 200% up to

18 Breakdown of gas consumption in the APR, 2012: 625 billion cub.m Share of gas consumption: 625 billion cub.m Gas consumption growth rates (the region s average being 5.0%) Pakistan 7% Malaysia 6% South Korea 8% Thailand 9% Others 12% China 24% 8,2% 9,9% 10,3% 8,8% 5,6% 7,8% 9,6% 10,6% Japan 19% India 9% Indonesia 6% 18

19 A market niche for Russia s LNG in APR

20 Forecasted production and consumption in the core markets 1400,0 1200,0 1000,0 800,0 Forecasted gas consumption by key regions, billions of m3/year 1038 Gas production and consumption in , North America Europe & Eurasia Asia Pacific Source: BP Energy Outlook 2035 North America Europe & Eurasia Consumption Asia Pacific Production

21 The present and future of APR s gas market 2012 Total consumption: 625 billion m3 Imports; 155 Producti on; 470 Growth by 200% or 9% per year 2035 Total consumption: 1,274 billion m3 Imports; 447 Production 827 Source:BP 2013, Roberto F. Aguilera et al, The Asia Pacific natural gas market: Large enough for all?. Energy Policy, 2014.

22 APR s requirement of gas imports Additional requirement for imports from 2012 to 2035, billions of m Imports by2035: 447 billion m3, including: LNG 337 billionm3 (248 million t. LNG) PNG 110 billion m PNG 22% LNG 78%

23 Meeting the demand for LNG up to 2035, M tons/year Russian LNG supply projects 17, , Ямал СПГ Владивосток СПГ Печора СПГ 2. Contracted LNG in APR by Meeting the additional requirement for LNG imports Niche: 15 M tons/year 23 Китай 65,5 73, Япония и Корея Contracted LNG Demand for LNG

24 The Asia-Pacific Region: Current level of LNG prices

25 Pricing in the APR: Facts The LNG market in the region follows the pattern of Japanese LNG contracts: o The principle of Market Value Pricing: The LNG price is linked to the crude oil price as its key substitute in the target consumption sector (Japan) power generation Key price indices: o o JCC - Japanese Crude Cocktail ICP Indonesian Crude Oil Price Key price index formulas: o o Linear S-curve Prior to the 2000s, the LNG price was linked to the Asian Premium crude oil price with a premium. 25

26 APR s gas prices are higher than in the core markets APR (Japan) Europe APR Europe (UK) USA Europe Europe (UK) $/1,000m3 USA

27 Correlation between the price level and the indexation form $/MMBtu Correlation between LNG and crude oil prices in the APR Цена нефти марки Dubai Цена СПГ в Японии $/bbl Year CIF prices, $/1000m 3 Dubai crude, $/bbl

28 Correlation between the price level and the indexation form $/MMBtu Correlation between LNG and crude oil prices in the APR Цена нефти марки Dubai Цена СПГ в Японии $/bbl $/MMBtu $/MMBtu Linear formula LNG price Crude Oil price $/bbl S-curve $/bbl Crude oil Parity S-curve

29 LNG price level by the end of 2013 $/MMBtu China LNG Japan LNG S. Korea LNG Indian LNG Japan/Ko rea Marker (JKM) (Spot) Oil price parity at 100$/ bbl $/MMBtu 15,25 15,65 15,65 13,75 17,348 17,24 $/1000m Data: Federal Energy Commission USA, Plats $/1000m

30 Asia-Pacific Region Drivers of the LNG price change in APR

31 1. Exchange trading started in the APR May 2013: The LNG Hub opens in Singapore SLNG (Singapore LNG Terminal) capacity: 3.5 Mtpa(two-week gas consumption in Japan), with an option to expand up to 9.0 Mtpaand more. Prospects of LNG exchange trade in Singapore: Criticism: lack of volumes for gas (LNG) trading -low market liquidity. Facts: 1. Japanese, US, Australian, Indian and European companies are getting ready for participation in LNG trading: the traders are hired, the volumes are allocated. 2. The lack of APR market niche for Russian gas before 2025 opens an opportunity for short-term deals with Russian LNG at the Singapore Exchange.

32 How will exchange trading influence the regional price level? Initially, the low liquidity will inhibit full-scale LNG trading. The Singapore Hub will not be the main point for LNG trade but: It will turn into a supply balancing tool Price in hub will become an alternative price indicator(for oil baskets like JCC) It will contribute to a change in the regional price level Subsequently, it will result in pricing transformation in APR: migration from crude oil indexation to exchange pricing.

33 2. Prospects of methane hydrate production and its impact on LNG price Japan: Research of commercial production potential of natural gas hydrate (NGH) and subsequent power generation using marine plants by Implications of NGH commercial production launch in Japan: Increase in electricity supply reduction in electricity prices MH competing with LNG via electricity price LNG prices revised downward. Dissemination of production technologies to neighboring countries (China, Korea) LNG price revision linked to the electricity or MH cost.

34 Prospects of Russian gas exports to the APR There is a potential for increased LNG supplies from Russia to APR countries but: A flexible marketing strategy is required: o Long-term contracts combined with participation in exchange trade. o Pricing mechanisms for LNG contracts ensuring the competitiveness of prices for Russian gas in the buyer s end market, including: Crude oil price indexation, with downward revision ( - 10%) Use of exchange price indicator Hybrid model: exchange prices +crude oil price indexation: (30%/70%, 40%/60% etc.) Netback(or indexation) based on electricity and other prices. 34

35 References: 1. IGU World LNG Report Exxon Mobil BP Statistics SHWE Gas Movement. 5. IHS CERA, various sources. 6. BP Energy Outlook Eriras.ru. 8. Argusmedia.com.

36 Anastasiya Masalkova PhD Senior Lecturer Department of Economy Theory, Gubkin Russian State University of Oil and Gas, Leninsky prospect, 65-1, , Moscow, Russia

37 Thank you for your attention!

LNG in the Asia Pacific

LNG in the Asia Pacific 2016/EWG52/WKSP1/004 LNG in the Asia Pacific Submitted by: APERC Asia Pacific Energy Research Centre Workshop Moscow, Russia 18 October 2016 APERC Workshop at EWG52 Moscow, Russia, 18 October, 2016 3-2.

More information

3-2. LNG in the Asia-Pacific

3-2. LNG in the Asia-Pacific APERC Workshop at EWG52 Moscow, Russia, 18 October, 2016 3-2. LNG in the Asia-Pacific Favoring trade and rational market development Kirsten Smith Researcher, APERC Report Highlights Report Highlights

More information

Lecture 12. LNG Markets

Lecture 12. LNG Markets Lecture 12 LNG Markets Data from BP Statistical Review of World Energy 1991 to 2016 Slide 1 LNG Demand LNG demand is expected to grow from China, India and Europe in particular. Currently biggest importer

More information

LNG Shipping: How Long Will The Good Times Last?

LNG Shipping: How Long Will The Good Times Last? LNG Shipping: How Long Will The Good Times Last? Poten & Partners November 1 HOUSTON NEW YORK LONDON ATHENS SINGAPORE GUANGZHOU PERTH A GLOBAL BROKER AND COMMERCIAL ADVISOR FOR THE ENERGY AND OCEAN TRANSPORTATION

More information

6 th World LNG Series Asia Pacific Summit Wednesday 24 September The changing LNG Demand and Supply Outlook Jérôme Ferrier President IGU

6 th World LNG Series Asia Pacific Summit Wednesday 24 September The changing LNG Demand and Supply Outlook Jérôme Ferrier President IGU IGU 6 th World LNG Series Asia Pacific Summit Wednesday 24 September 2014 The changing LNG Demand and Supply Outlook Jérôme Ferrier President IGU Allocated title: 15 minutes The Hon. Nixon Philip Duban,

More information

US LNG competitiveness in Asia. in changing oil and gas price

US LNG competitiveness in Asia. in changing oil and gas price US LNG competitiveness in Asia Pacific: cost plus vs. oil indexation in changing oil and gas price environment Prof. Dr. Andrey A. Konoplyanik, Adviser to Director General, Gazprom export LLC, Professor

More information

New Delhi 24 November th IEF-IGU Ministerial Gas Forum IEF Background Materials

New Delhi 24 November th IEF-IGU Ministerial Gas Forum IEF Background Materials New Delhi 24 November 2016 5 th IEF-IGU Ministerial Gas Forum IEF Background Materials Overview 1. 3+3 Challenges 2. 7 Observations on gas markets 3. What the JODI Gas Data Base Shows 4. 3 Proposals 7

More information

those where domestic gas prices and affordability both in absolute terms and relative to other sources of energy are likely to restrict development of

those where domestic gas prices and affordability both in absolute terms and relative to other sources of energy are likely to restrict development of Can Demand for Imported LNG in Asia Increase Because It is a Cleaner Energy Source? Jonathan Stern * Introduction During the period 2014-21, global LNG supply is expected to increase from around 320 Bcm

More information

US LNG competitiveness in Asia. in changing oil and gas price

US LNG competitiveness in Asia. in changing oil and gas price US LNG competitiveness in Asia Pacific: cost plus vs. oil indexation in changing oil and gas price environment Prof. Dr. Andrey A. Konoplyanik, Adviser to Director General, Gazprom export LLC, Professor

More information

Outlook for Gas Markets

Outlook for Gas Markets IEEJ IEEJ:Published 2015 年 7 in 月 August 禁無断転載 2015 All rights reserved The 420th Forum on Research Work July 10, 2015 Outlook for Gas Markets The Institute of Energy Economics, Japan Tetsuo Morikawa Manager,

More information

Gas Markets in 2015: Outlook and Challenges

Gas Markets in 2015: Outlook and Challenges The 418th Forum on Research Work Gas Markets in 2015: Outlook and Challenges December 19, 2014 Tetsuo Morikawa The Institute of Energy Economics, Japan Natural Gas Demand in Major Regions Natural Gas Demand

More information

Central Asia to the East:

Central Asia to the East: INSTITUTE OF ENERGY STRATEGY Gas turn of Russia and Central Asia to the East: problems and prospects Alexey Belogoryev Head of Fuel & Energy Complex Department, Scientific secretary, Institute of Energy

More information

Bcma Global LNG Liqufaction capacity existing & FID d/under construction

Bcma Global LNG Liqufaction capacity existing & FID d/under construction OXFORD INSTITUTE FOR ENERGY STUDIES Natural Gas Research Programme Asian LNG Market Development to 2025: pricing and contractual challenges Professor Jonathan Stern Chairman and Senior Research Fellow

More information

LNG Market in Asia. - A Japanese Perspective on the LNG Industry - October 14 th, Industry Research Department

LNG Market in Asia. - A Japanese Perspective on the LNG Industry - October 14 th, Industry Research Department LNG Market in Asia - A on the LNG Industry - October 14 th, 216 Industry Research Department Copyright (c) Mizuho Bank, Ltd. All Rights Reserved. Contents 1 Energy Policies in Japan P. 2 2 P. 9 3 P. 15

More information

IPTC MS The Outlook for LNG Supply to Asia. Stuart Traver, Lalitha Seelam and Nick Fulford Baker Hughes Inc. and Gaffney, Cline & Associates

IPTC MS The Outlook for LNG Supply to Asia. Stuart Traver, Lalitha Seelam and Nick Fulford Baker Hughes Inc. and Gaffney, Cline & Associates IPTC 17774 - MS The Outlook for LNG Supply to Asia Stuart Traver, Lalitha Seelam and Nick Fulford Baker Hughes Inc. and Gaffney, Cline & Associates Slide 2 2013 GLOBAL NATURAL GAS TRADE Units: billion

More information

World LNG Report industry trends-

World LNG Report industry trends- World LNG Report-218 -industry trends- Satoshi Yoshida General Manager, International Section, Policy and Planning Department Japan Gas Association International Gas Union (IGU) Who we are Founded in 1931,

More information

Japan s LNG Prices Trending Upwards

Japan s LNG Prices Trending Upwards Japan s LNG Prices Trending Upwards David Wood David Wood & Associates, Lincoln UK Published in Energy Tribune December 2007 Japan is the world's largest LNG consumer and imported 81.86 bcm of natural

More information

GAZPROM IN EASTERN RUSSIA, ENTRY INTO ASIA-PACIFIC MARKETS

GAZPROM IN EASTERN RUSSIA, ENTRY INTO ASIA-PACIFIC MARKETS GAZPROM IN EASTERN RUSSIA, ENTRY INTO ASIA-PACIFIC MARKETS Moscow, June 18, 2014 EASTERN GAS PROGRAM 2 Gazprom in Eastern Russia, Entry into Asia-Pacific Markets Vladivostok LNG construction project Process

More information

LNG Projects & Markets Past, Present & Challenges Ahead

LNG Projects & Markets Past, Present & Challenges Ahead LNG Projects & Markets Past, Present & Challenges Ahead Presented by: Don Andress Mostefa Ouki Nexant [Part 2: Markets, Past, Present & Challenges Ahead] United States Association for Energy Economics

More information

Key Challenges for the Development of LNG

Key Challenges for the Development of LNG 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) Key Challenges for the Development of LNG in

More information

The Role of GCC s Natural Gas in the World s Gas Markets

The Role of GCC s Natural Gas in the World s Gas Markets World Review of Business Research Vol. 1. No. 2. May 2011 Pp. 168-178 The Role of GCC s Natural Gas in the World s Gas Markets Abdulkarim Ali Dahan* The objective of this research is to analyze the growth

More information

The Economics of LNG Export Contract Flexibility: a quantitative approach

The Economics of LNG Export Contract Flexibility: a quantitative approach The Economics of LNG Export Contract Flexibility: a quantitative approach By Yichi Zhang, 29 October 2012, EPRG weekly seminar Supervisors: Pierre Noel, Chi Kong Chyong shebazhang@gmail.com Introduction

More information

Prospects for unconventional natural gas supply in Asia

Prospects for unconventional natural gas supply in Asia Perth, 16 February 2016 Prospects for unconventional natural gas supply in Asia Roberto F. Aguilera Background Expansion of natural gas share in primary energy mix, especially Asia Gas demand is dominated

More information

RYSTAD ENERGY GAS PERSPECTIVES. Jakarta, November 20 th 2017

RYSTAD ENERGY GAS PERSPECTIVES. Jakarta, November 20 th 2017 RYSTAD ENERGY GAS PERSPECTIVES Jakarta, November 2 th 217 Agenda 1. Global LNG market outlook Oversupply and new Asian demand 2. Japan LNG Market outlook LNG demand in a nuclear restart 2 Longer distances

More information

The 55 th Meeting of APEC Energy Working Group (EWG) Hong Kong, China, May, Diego RIVERA RIVOTA APERC Researcher

The 55 th Meeting of APEC Energy Working Group (EWG) Hong Kong, China, May, Diego RIVERA RIVOTA APERC Researcher The 55 th Meeting of APEC Energy Working Group (EWG) Hong Kong, China, 16-17 May, 2018 Diego RIVERA RIVOTA APERC Researcher Total gas consumption in the APEC region, 2006-2016 Demand growth driven by the

More information

FUTURE LNG PRICE IN ASIAN MARKET. Main author. Takeo Suzuki Senior Coordinator THE INSTITUTE OF ENERGY ECONOMICS, JAPAN JAPAN

FUTURE LNG PRICE IN ASIAN MARKET. Main author. Takeo Suzuki Senior Coordinator THE INSTITUTE OF ENERGY ECONOMICS, JAPAN JAPAN FUTURE LNG PRICE IN ASIAN MARKET Verwijderd: THE Verwijderd: IN FUTURE Main author Takeo Suzuki Senior Coordinator THE INSTITUTE OF ENERGY ECONOMICS, JAPAN JAPAN Verwijderd:, ABSTRACT This paper reviews

More information

Evolution of the Regional Gas Pricing mechanisms: Current Situation and Possible Paths to the Future

Evolution of the Regional Gas Pricing mechanisms: Current Situation and Possible Paths to the Future Evolution of the Regional Gas Pricing mechanisms: Current Situation and Possible Paths to the Future Ekaterina V. Zelenovskaya International Center For Climate Governance December 22, 2011 Introduction

More information

Finding Global End Use Markets for the Growing LPG Supply

Finding Global End Use Markets for the Growing LPG Supply Finding Global End Use Markets for the Growing LPG Supply March 7, 2017 Dr. Walt Hart, Vice President, IHS Natural Gas Liquids Walt.Hart@ihsmarkit.com 2 Finding Global End Use Markets for the Growing LPG

More information

216 IEEJ216 Key points of this report Oversupply in the international LNG market will expand further in the coming years. Upstream industry is cutting

216 IEEJ216 Key points of this report Oversupply in the international LNG market will expand further in the coming years. Upstream industry is cutting 216 IEEJ216 423 rd Forum on Research Works on July 26, 216 Outlook for Gas Market The Institute of Energy Economics, Japan Yoshikazu Kobayashi Senior Economist, Manager, Gas Group, Fossil Fuels & Electric

More information

The Asian LNG Market Strides Ahead

The Asian LNG Market Strides Ahead The Asian LNG Market Strides Ahead Hong Chou Hui, Managing Editor, Platts Asia LNG Asia s LNG market continued to evolve in 2011, as the volatility of the last few years, coupled with a major crisis in

More information

Hub-based Pricing: European Lessons for Asia

Hub-based Pricing: European Lessons for Asia Hub-based Pricing: European Lessons for Asia Alexander Medvedev Deputy Chairman of Gazprom Management Committee, Director General of Gazprom Export GASTECH North East Asia Gas Pricing Gathering Seoul,

More information

Plenary Session 1: Global Shifts: The Future of Energy Security: Finding New Balances. Background Paper

Plenary Session 1: Global Shifts: The Future of Energy Security: Finding New Balances. Background Paper India New Delhi Plenary Session 1: Global Shifts: The Future of Energy Security: Finding New Balances Background Paper Disclaimer The observations presented herein are meant as background for the dialogue

More information

Securing a Sustainable Energy (Gas) Future for Malaysia

Securing a Sustainable Energy (Gas) Future for Malaysia Securing a Sustainable Energy (Gas) Future for Malaysia 3 rd Energy Forum 12 th July 2011 Ezhar Yazid Jaafar General Manager, Strategic Planning Gas and Power Business, PETRONAS 2011 PETROLIAM NASIONAL

More information

7. Gas. Resources and Energy Quarterly December

7. Gas. Resources and Energy Quarterly December 7. Gas Resources and Energy Quarterly December 18 42 7.1 Summary The value of Australia s LNG exports is forecast to increase from $31 billion in 17 18 to $5 billion in 18 19, driven by higher export volumes

More information

Pricing Mechanisms Development in the East Asian Gas Market

Pricing Mechanisms Development in the East Asian Gas Market Pricing Mechanisms Development in the East Asian Gas Market Irina Mironova, Energy Research Institute of the Russian Academy of Sciences, Russian Federation Abstract The balance in international politics

More information

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis [LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 8 th June 2018 LNG and Natural Gas Price Assessment 28 th May 8 th June 2018 [LNG MARKET ANALYSIS ] 2 LNG Analysis Stable to bullish

More information

IEEJ: March All Rights Reserved. Energy Security in North Asia March 12, 2014 The Institute of Energy Economics, Japan CEO & Chairman Masakazu T

IEEJ: March All Rights Reserved. Energy Security in North Asia March 12, 2014 The Institute of Energy Economics, Japan CEO & Chairman Masakazu T Energy Security in North Asia March 12, 2014 The Institute of Energy Economics, Japan CEO & Chairman Masakazu Toyoda Table of Contents 1. Asia: A Center of Growth and Energy Consumption 2. Recent Uncertainties

More information

Does LNG Threaten Russian Supplies to Europe?

Does LNG Threaten Russian Supplies to Europe? Does LNG Threaten Russian Supplies to Europe? Sergei Komlev Head of Contract Structuring and Price Formation Directorate Gazprom Export IEA workshop on Eurasian gas markets Paris, April15 th, 2016 2010

More information

Summary LNG, an increasingly important energy option in Asia and the rest of the world But challenges remain for LNG to play an expected bigger role S

Summary LNG, an increasingly important energy option in Asia and the rest of the world But challenges remain for LNG to play an expected bigger role S Prospect and Challenges in the World and Asian LNG Market LNG Producer Consumer Conference September 19, 2012 The Institute of Energy Economics Japan Ken Koyama 0 Summary LNG, an increasingly important

More information

Milken Institute: Center for Accelerating Energy Solutions

Milken Institute: Center for Accelerating Energy Solutions Milken Institute: Center for Accelerating Energy Solutions Center for Accelerating Energy Solutions Promotes policy and market mechanisms to build a more stable and sustainable energy future Identifies

More information

LNG in 2015 and MT perspectives

LNG in 2015 and MT perspectives CEDIGAZ, the International Association for Natural Gas LNG in 2015 and MT perspectives Geoffroy Hureau Secretary General - CEDIGAZ THE LNG MARKET IN 2015 (Preliminary estimates) LNG Demand grew 2% in 2015

More information

LNG Market Globalization: Impact on commercial arrangements and prices

LNG Market Globalization: Impact on commercial arrangements and prices LNG Market Globalization: Impact on commercial arrangements and prices Jean Marc HOSANSKI Senior Vice President LNG GasTech 2005 - Bilbao, Thursday 17 th March 2005 General trends on the LNG planet The

More information

Total Net Exports 105, , , , , , , , , , ,153

Total Net Exports 105, , , , , , , , , , ,153 Wheat Trade Net Exporters Argentina 7,495 6,454 7,206 6,988 7,144 7,205 7,343 7,492 7,737 7,766 7,711 Australia 18,900 20,066 20,021 20,047 20,254 20,486 20,827 21,027 21,262 21,494 21,619 Canada 17,600

More information

Fabio Ballini World Maritime University

Fabio Ballini World Maritime University Pricing on gas: focus on LNG sectors Fabio Ballini World Maritime University What are the benefits of LNG? Environmental Benefits Table 3: Compering alterative technologies and fuels Source: SSPA, TC/1208-05-2100

More information

The Importance of Coal in the EAS Region

The Importance of Coal in the EAS Region Chapter 2 The Importance of Coal in the EAS Region Study on the Strategic Usage of Coal in the EAS Region Working Group June 2013 This chapter should be cited as Study on the Strategic Usage of Coal in

More information

Global LNG Market dynamics, key trends and market outlook

Global LNG Market dynamics, key trends and market outlook REUTERS / Anne Kat Brevik Global LNG Market dynamics, key trends and market outlook December 14, 217 What to address Market dynamics, key trends and market outlook The role and outlook for U.S. LNG China

More information

Comparison of Netbacks from Potential LNG Project with ALCAN Pipeline Project

Comparison of Netbacks from Potential LNG Project with ALCAN Pipeline Project Comparison of Netbacks from Potential LNG Project with ALCAN Pipeline Project June 20, 2008 Barry Pulliam Senior Economist Econ One Research 5th Floor 601 W 5th Street Los Angeles, California 90071 213

More information

World LNG Trade 2014 & Outlook 2015

World LNG Trade 2014 & Outlook 2015 World LNG Trade 2014 & Outlook 2015 By: Global LNG Info (GLNGI) May 2015 www.globallnginfo.com LNG Trades 2014 (1) 239.2 MMT of LNG traded in 2014, effectively flat for the third year running as reduced

More information

WILL THERE BE A TWO-TIER LNG CONTRACT PRICING MECHANISM IN ASIA?

WILL THERE BE A TWO-TIER LNG CONTRACT PRICING MECHANISM IN ASIA? WILL THERE BE A TWO-TIER LNG CONTRACT PRICING MECHANISM IN ASIA? By: Kyoichi Miyazaki Majed Limam Poten & Partners, Inc., New York Date: 5 th June, 2012 Venue: Kuala Lumpur, Malaysia $/MMBtu 2 Gas prices

More information

NATURAL GAS PRICING GENERAL THEORY AND APPLICATION

NATURAL GAS PRICING GENERAL THEORY AND APPLICATION Page 1 of 16 NATURAL GAS PRICING GENERAL THEOR AND APPLICATION Afshin Javan Senior Expert LNG Marketing and Sales (NIOC) Introduction- Natural gas occupies an important position in the international energy

More information

Chapter 2. Background. October 2016

Chapter 2. Background. October 2016 Chapter 2 Background October 2016 This chapter should be cited as ERIA (2016), Background, in Koyama K., I. Kutani and Y. Li (eds.), Joint Study for Liquefied Natural Gas Market. ERIA Research Project

More information

Energy Situation in Asia and the Pacific: Emerging and Persistent issues

Energy Situation in Asia and the Pacific: Emerging and Persistent issues Energy Situation in Asia and the Pacific: Emerging and Persistent issues Antonio Della Pelle UNESCAP, Bangkok 26 November 2014 Outline Contents 1. Introduction 2. Historical Trends in Asia-Pacific 3. Future

More information

Developments of the LNG Futures Market

Developments of the LNG Futures Market LNG Producer-Consumer Conference 2015 Developments of the LNG Futures Market 16 September, 2015 Takayuki Sumita Director-General For Commerce, Distribution and Industrial Safety Policy 1. Fundamental changes

More information

Energy markets the short and the long term

Energy markets the short and the long term Energy markets the short and the long term Christof Rühl, Chief Economist, BP BP 2012 Outline The economy A year of disruptions Long term implications Conclusion Global growth: slow and on life support

More information

BP Energy Outlook 2018 edition

BP Energy Outlook 2018 edition BP Energy Outlook 218 edition Spencer Dale Group chief economist Alternative scenarios Primary energy consumption by fuel Carbon emissions Billion toe Billion tonnes CO2 2 24 4 35 15 Renewables 3 1 5 216

More information

DUAL PLENARY SESSION: Energy Market Integration - Developments in LNG

DUAL PLENARY SESSION: Energy Market Integration - Developments in LNG DUAL PLENARY SESSION: Energy Market Integration - Developments in LNG Effects of recent and future developments in LNG markets on the interconnectedness of regional gas markets Fisoye Delano Poten & Partners

More information

APEC s Energy Intensity Reduction Goal: Research Update Ralph D. Samuelson 17 October 2011 Asia Pacific Energy Research Centre (APERC)

APEC s Energy Intensity Reduction Goal: Research Update Ralph D. Samuelson 17 October 2011 Asia Pacific Energy Research Centre (APERC) APEC s Energy Intensity Reduction Goal: Research Update Ralph D. Samuelson 17 October 2011 Asia Pacific Energy Research Centre (APERC) Outline What Happened in 2009? Comments on the ERIA Analysis A Look

More information

Global Liquid Bandage Market Research Report 2018

Global Liquid Bandage Market Research Report 2018 Report Information More information from: https://www.wiseguyreports.com/reports/2821215-global-liquid-bandage-market-research-report-2018 Global Liquid Bandage Market Research Report 2018 Report / Search

More information

Gas Markets Globalization: Perspectives and Limits

Gas Markets Globalization: Perspectives and Limits Gas Markets Globalization: Perspectives and Limits By: Sid Ahmed Hamdani, Senior Business Analyst, Sonatrach, Algeria Date:04 June 2012 Venue: Kuala Lumpur Towards Gas Market Globalization? Increasing

More information

Energy in Perspective

Energy in Perspective Energy in Perspective BP Statistical Review of World Energy 27 Christof Rühl Deputy Chief Economist London, 12 June 27 Outline Introduction What has changed? The medium term What is new? 26 in review Conclusion

More information

International Energy Outlook: key findings in the 216 Reference case World energy consumption increases from 549 quadrillion Btu in 212 to 629 quadril

International Energy Outlook: key findings in the 216 Reference case World energy consumption increases from 549 quadrillion Btu in 212 to 629 quadril EIA's Global Energy Outlook For The Institute of Energy Economics, Japan October 5, 216 Japan By Adam Sieminski, Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov

More information

Edgardo Curcio President AIEE

Edgardo Curcio President AIEE Edgardo Curcio President AIEE The First National Conference on Liquefied Natural Gas for Transports - Italy and the Mediterranean Sea April 11, 2013 What is LNG? The LNG (Liquefied Natural Gas) is a fluid

More information

Singapore s Import of LNG

Singapore s Import of LNG Singapore s Import of LNG Panel Session 4: New Procurement Behaviors by Consumers Presentation at LNG Producer-Consumer Conference Tokyo, Japan 10 Sep 2013 0 Singapore Electricity Fuel Mix Natural Gas

More information

Indonesia s Generation Fuel Mix in an Era of Price Uncertainty Tom Parkinson 14 April 2015

Indonesia s Generation Fuel Mix in an Era of Price Uncertainty Tom Parkinson 14 April 2015 Indonesia s Generation Fuel Mix in an Era of Price Uncertainty Tom Parkinson 14 April 215 Who we are Helping Our Clients Create Value Market analysis and insights Asset valuation / M&A Policy / regulation

More information

Business as Usual (BAU) Preliminary Scenario Results

Business as Usual (BAU) Preliminary Scenario Results 6 th APEC Energy Demand and Supply Outlook Business as Usual (BAU) Preliminary Scenario Results Cecilia Tam Deputy Vice President, APERC Asia Pacific Energy Research Centre This presentation is for review

More information

Oxford Institute for Energy Studies Natural Gas Programme Howard V Rogers

Oxford Institute for Energy Studies Natural Gas Programme Howard V Rogers Oxford Institute for Energy Studies Natural Gas Programme Howard V Rogers LNG Costs, Russian Exports and Global Interactions December 9 th & 1 th 215 WE ARE: A gas research programme at a Recognised Independent

More information

Energy Market in Asia-Pacific and Canada s Potential for Natural Gas Export. Shahidul Islam

Energy Market in Asia-Pacific and Canada s Potential for Natural Gas Export. Shahidul Islam Energy Market in Asia-Pacific and Canada s Potential for Natural Gas Export Shahidul Islam Objective Examine energy demand in Asia-Pacific Especially natural gas Canada s natural gas situation Potential

More information

LNG Markets GDF SUEZ and its LNG activities

LNG Markets GDF SUEZ and its LNG activities LNG Markets GDF SUEZ and its LNG activities Paris 22 April 2013 Denis Bonhomme Executive VP Strategy GDF SUEZ LNG This presentation is not intended to provide the basis for any evaluation of GDF SUEZ or

More information

BIEE Gas Seminar: Global Shifts in Gas Demand

BIEE Gas Seminar: Global Shifts in Gas Demand October 213 BIEE Gas Seminar: Global Shifts in Gas Demand Kai Dunker, Lead Economist Global Gas Markets Disclaimer This presentation contains forward-looking statements, particularly those regarding global

More information

Asia s Energy Security & Regional Cooperation

Asia s Energy Security & Regional Cooperation Iranian Role in Crude Oil Security For Asia BY H.Ghanimi Fard, Ph.D. Executive Director for International Affairs, NIOC & Faculty Member, Petroleum University of Technology Asia s Energy Security & Regional

More information

BP Statistical Review of World Energy

BP Statistical Review of World Energy BP Statistical Review of World Energy July 2016 bp.com/statisticalreview #BPstats BP p.i.c.2016 BP Statistical Review of World Energy July 2016 2015: A year of plenty Richard de Caux, head of refining

More information

The Global Natural Gas Industry

The Global Natural Gas Industry The Global Natural Gas Industry Orlando CABRALES SEGOVIA Presidente de Naturgas, Colombia Regional Coordinator International Gas Union August 28 218 IGU Members serve 97% of the Worlds Gas Market 91 Charter

More information

HAVE WE CROSSED THE BRIDGE?

HAVE WE CROSSED THE BRIDGE? GAS AS A BRIDGE FUEL: HAVE WE CROSSED THE BRIDGE? 9th South East Europe Energy Dialogue (SEEED) International Conference The MET Hotel, Thessaloniki, June 29-30, 2016 Nikos Tsafos, President nikos.tsafos@.com

More information

Energy trade and connectivity in Asia and the Pacific. Vladimir Krasnogorskiy

Energy trade and connectivity in Asia and the Pacific. Vladimir Krasnogorskiy Energy trade and connectivity in Asia and the Pacific Vladimir Krasnogorskiy ENEA major trade flows 20,000,000.00 18,000,000.00 16,000,000.00 14,000,000.00 12,000,000.00 10,000,000.00 8,000,000.00 6,000,000.00

More information

Impact of American Unconventional Oil and Gas Revolution

Impact of American Unconventional Oil and Gas Revolution National University of Singapore Energy Studies Institute 18 May 215 Impact of American Unconventional Oil and Gas Revolution Edward C. Chow Senior Fellow Revenge of the Oil Price Cycle American Innovation:

More information

Natural Gas Medium-term Outlook and Security Review

Natural Gas Medium-term Outlook and Security Review Natural Gas Medium-term Outlook and Security Review Jean-Baptiste Dubreuil Columbia University, New York, 30 October 2018 IEA Context Gas markets in the next five years Gas demand is in the fast lane,

More information

Session 2: Gas demand growth beyond power generation

Session 2: Gas demand growth beyond power generation Session 2: Gas demand growth beyond power generation IEF-IGU Gas Ministerial 22 nd November 218 Key messages: Gas demand growth beyond power generation Key messages Session objectives Recent global gas

More information

RIM LNG Trade Annual 2010 Edition

RIM LNG Trade Annual 2010 Edition RIM LNG Trade Annual 2010 Edition -Contents Volume 1 = Liquefacation Terminals in the world 1. Liquefacation Terminals in Asian Pacific Region 1 United states of America(Alaska) 2 Brunei 3 Indonesia 4

More information

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis [LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 13 th April 2018 LNG and Natural Gas Price Assessment 3 rd 13 th April 2018 [LNG MARKET ANALYSIS ] 2 LNG Analysis Global LNG prices

More information

T A O F C O PART A GLOBAL ENERGY TRENDS TO 2030 PART B POST-2012 CLIMATE POLICY FRAMEWORK PART C PROSPECTS FOR NATURAL GAS

T A O F C O PART A GLOBAL ENERGY TRENDS TO 2030 PART B POST-2012 CLIMATE POLICY FRAMEWORK PART C PROSPECTS FOR NATURAL GAS T A BL PART A GLOBAL ENERGY TRENDS TO 2030 E O F PART B POST-2012 CLIMATE POLICY FRAMEWORK C O NT E N TS PART C PROSPECTS FOR NATURAL GAS PART D ENERGY PROSPECTS IN SOUTHEAST ASIA ANNEXES GLOBAL ENERGY

More information

BP Energy Outlook 2016 edition

BP Energy Outlook 2016 edition BP Energy Outlook 216 edition Mark Finley 14th February 216 Outlook to 235 bp.com/energyoutlook #BPstats Economic backdrop Trillion, $21 25 Other 2 India Africa 15 China 1 OECD 5 OECD 1965 2 235 GDP 2

More information

Long Term Price Forecast

Long Term Price Forecast Long Term Price Forecast Steam Coal and Freight 2017-30 April 2017 About this report Long Term Price Forecast Steam Coal And Freight 2017-30 is the sixth annual edition of the Long Term Price Forecast,

More information

Placed to Win Emerging Nations Set to Shake Up Natural Order

Placed to Win Emerging Nations Set to Shake Up Natural Order Release date: 16 December 2015 Placed to Win Emerging Nations Set to Shake Up Natural Order Castrol releases its latest Natural Products Trade Barometer, part of the Castrol Global Trade Barometer Index

More information

Policy & Economic Report - Oil & Gas Market

Policy & Economic Report - Oil & Gas Market January 2018 Policy & Economic Report - Oil & Gas Market Federation of Indian Petroleum Industry (FIPI) 3rd Floor, PHD House, 4/2, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016 Table

More information

Russia s Changing Role in the Global Gas Market

Russia s Changing Role in the Global Gas Market Russia s Changing Role in the Global Gas Market Dr. Tatiana Mitrova Head of Oil and Gas Department Energy Research Institute of the Russian Academy of Sciences Daegu June 18, 2013 1 1 CHANGING GLOBAL GAS

More information

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis [LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 6 th April 2018 [LNG MARKET ANALYSIS ] 2 LNG and Natural Gas Price Assessment 26 th March 6 th April 2018 LNG Analysis Global LNG

More information

January Christof Rühl, Group Chief Economist

January Christof Rühl, Group Chief Economist January 213 Christof Rühl, Group Chief Economist Contents Introduction Global energy trends Outlook 23: Fuel by fuel Implications Energy Outlook 23 BP 213 Introduction Global energy trends Outlook 23:

More information

LNG market transformation

LNG market transformation LNG market transformation How the next 5 years will change the rules December 2017 www.timera-energy.com 1 Contents Section Contents Summary 5 key takeaways 3 Asian portfolio positions Top 5 Asian buyer

More information

Global Gas and LNG in Flux. Michael Smith, Gas Trading Analytics BIEE Gas Outlook Seminar, 10th October 2011

Global Gas and LNG in Flux. Michael Smith, Gas Trading Analytics BIEE Gas Outlook Seminar, 10th October 2011 Global Gas and LNG in Flux Michael Smith, Gas Trading Analytics BIEE Gas Outlook Seminar, th October 211 Cautionary Statement This presentation and its contents have been provided to you for informational

More information

Promoting regional cooperation in the Asia-Pacific gas industry, for sustainable development in the region

Promoting regional cooperation in the Asia-Pacific gas industry, for sustainable development in the region Natural Gas Trade as a Catalyst for Regional Market Integration Promoting regional cooperation in the Asia-Pacific gas industry, for sustainable development in the region Norio Ichino Chairman, The Japan

More information

LNG Market Trends & Price Transparency

LNG Market Trends & Price Transparency LNG Market Trends & Price Transparency Tokyo Fiona Poynter April 2015 London Houston Washington New York Portland Calgary Santiago Bogota Rio de Janeiro Singapore Beijing Tokyo Sydney Dubai Moscow Astana

More information

TABLE OF CONTENTS 6 MEDIUM-TERM COAL MARKET REPORT 2016

TABLE OF CONTENTS 6 MEDIUM-TERM COAL MARKET REPORT 2016 TABLE OF CONTENTS Foreword... 3 Acknowledgements... 5 Executive Summary... 12 Is the glass half full or half empty?... 12 The world is splitting apart... 12 A relieved industry... 13 Coal is still a Chinese

More information

Gas Market Report 2018

Gas Market Report 2018 Gas Market Report 2018 Jean-Baptiste Dubreuil, Senior Natural Gas Analyst, IEA Spanish Energy Club, Madrid 2 July 2018 IEA Context Gas markets in the next five years Gas demand is in the fast lane, thanks

More information

Global LNG Market Overview

Global LNG Market Overview Global LNG Market Overview 27 September, 2018 Toronto stock exchange listed, global intelligence solutions Request a demonstration of Evaluate Energy at this link 1 Who we serve 2 Global natural gas supply

More information

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis

[LNG MARKET ANALYSIS ] 1. LNG Market Analysis [LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 20 th April 2018 LNG and Natural Gas Price Assessment 14 th 20 th April 2018 [LNG MARKET ANALYSIS ] 2 LNG Analysis Global LNG prices

More information

Natural Gas and Japanese Energy Market. Hiroshi Ozaki

Natural Gas and Japanese Energy Market. Hiroshi Ozaki Natural Gas and Japanese Energy Market - opportunities and challenges Hiroshi Ozaki Chairman GASEX 2014 Hong Kong November 19, 2014 Contents 1. Japanese gas industry: an overview 2. Changes in Energy Policy

More information

OIL & ENERGY MARKETS: SHIFTING LANDSCAPE, TRADING OPPORTUNITIES

OIL & ENERGY MARKETS: SHIFTING LANDSCAPE, TRADING OPPORTUNITIES OIL & ENERGY MARKETS: SHIFTING LANDSCAPE, TRADING OPPORTUNITIES Gunvor Integrated Global Trading 1 A Balanced Trading Portfolio Naphtha Naphtha LPG Biofuel Gasoline LPG Biofuel Gasoline Gasoil Coal Crude

More information

Asian Gas Summit 2013 December 3, Asia driving natural gas growth

Asian Gas Summit 2013 December 3, Asia driving natural gas growth IGU Asian Gas Summit 2013 December 3, 2013 Asia driving natural gas growth Jérôme Ferrier President IGU Allocated time: 30 minutes Dr. Manmohan Singh, Hon ble Prime Minister of India Shri S. Jaipal Reddy,

More information

CHENIERE ENERGY, INC.

CHENIERE ENERGY, INC. CHENIERE ENERGY, INC. Factors Affecting Global Coal-Gas Competition NGI Workshop - Global Competition Between Coal and Natural Gas October 15th 218 Najla Jamoussi Director, Market Fundamentals & Corporate

More information

Effect of Crude Oil Price Drop on the Global Energy

Effect of Crude Oil Price Drop on the Global Energy 2016/EWG52/WKSP1/003 Effect of Crude Oil Price Drop on the Global Energy Submitted by: APERC Asia Pacific Energy Research Centre Workshop Moscow, Russia 18 October 2016 APERC Workshop at EWG52 Moscow,

More information